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Trailblazer Merger Corporation I, a special purpose acquisition company (SPAC), has announced an extension of its deadline to complete an initial business combination. The company disclosed in a recent SEC filing that it has deposited an additional $83,286.56 into its trust account, which extends the period to finalize a business combination from April 30, 2025, to May 31, 2025.
This extension follows a previous stockholder approval to amend the company’s charter, allowing for an extension from the original deadline of September 30, 2024, to September 30, 2025. The amendment also permits the board to further extend the deadline monthly for up to twelve months without additional stockholder votes. Financial data from InvestingPro reveals that TBMC’s short-term obligations exceed its liquid assets, with a current ratio of 0.18, though the company remains profitable over the last twelve months.
The company, based in New York and incorporated in Delaware, is currently listed on the Nasdaq Stock Market LLC under the ticker symbols TBMC for its common stock and TBMCR for its rights. With a market capitalization of approximately $53 million and current stock price of $11.75, TBMC has delivered a 5.4% return over the past six months. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with additional insights available through their premium service.
Trailblazer Merger Corp I is also in the process of a proposed business combination with Cyabra Strategy Ltd., an Israeli company. InvestingPro data shows the company maintains a "Fair" overall financial health score, with detailed financial metrics and additional ProTips available to subscribers. The merger, which is expected to result in the renaming of Trailblazer to "Cyabra, Inc.," is subject to approval by the shareholders of both companies. Details of the transaction, including the merger agreement and related financial information, will be provided to shareholders in a definitive proxy statement/prospectus once the registration statement is declared effective by the SEC.
The announcement comes as part of a standard SEC Form 8-K filing, which companies use to disclose material events that shareholders should be aware of. The information provided in this article is based on statements from the SEC filing and does not include any speculative or forward-looking statements beyond those provided by the company.
In other recent news, Trailblazer Merger Corporation I has taken significant steps in its ongoing efforts to complete a business combination with Cyabra Strategy Ltd. The company has extended its deadline for finalizing this merger, initially set for January 31, 2025, to February 28, 2025, by depositing $83,286.56 into its Trust Account. This extension follows a stockholder-approved amendment to Trailblazer’s certificate of incorporation, allowing for such deadline adjustments. The merger with Cyabra, a company specializing in digital authenticity and online narrative analysis, was first announced on July 22, 2024. Upon completion, Trailblazer will be renamed Cyabra, Inc., and continue trading on Nasdaq under new symbols. The merger is still pending shareholder approval, and Trailblazer plans to file a definitive proxy statement/prospectus with the SEC to facilitate this process. This document will provide shareholders with crucial information for voting on the transaction. These developments mark a pivotal moment in Trailblazer’s strategic plan to finalize its initial business combination.
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